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Your second example is right and is what I got first time I did it before confusing myself with your first working out. It is quite pricey, against a focus, golf or an astra on the scheme. However where it comes out quite well is in the residual cost after 3/4 years. At the moment they are saying around £5500 after 4 years and 48,000 miles to buy the car so at £22K That fairs quite well against buying privately and running the car myself. Buth then again in four years time if the price is holding up better then that may work against me. Given the precarious nature of the business that I'm in it does sway me towards the company car option. But then again.....
I don't get a car allowance as a seperate part of my salary, it is just included in my base pay. So using your terminolgy my calculations are.. Three Years Lease amount = £524.75 pm P11D value = £18,891 PUC = 524.75 = 6297 py = 18891 over 3 BIK = 2267 – 6297 = -4030 Tax from BIK = -1612 = -4836 over 3 Cost – 18891 – 4836 = £14,055 Four Years Lease amount = £464.50 pm PUC = 464.50 = 5574 py = 22296 over 4 BIK = 2267 – 5574 = -3307 Tax from BIK = -1323 = -5291 over 4 Cost = 22296 – 5291 = £17,005 They sound right given your figures are a for smaller lease cost & the larger list price.
Thanks for the info & comments. I'm ok working out the tax arrangements but thanks for the offer KMO as it is a bit complicated if you don't know what you are doing. The company car scheme works out at a 3 year cost of £18,295 for a T4 (or £21,618 for 4 years). At the moment, they won't give me what the buy back value will be but I think that I can get something out of them. I can also get a company PCP scheme which looks very competitive. As braindead says in his sig "My Brain Hurts" all I do know is that I want one of these beauties :)
I'm looking at getting a Prius in the near future. I am deciding over buying the car myself or getting it via my company car scheme. I'm currently pulling together the relevant costs and would like peoples opinions on what sort of costs I could expect over the first four years of ownership. I would expect to do no more than 10,000 miles a year. Currently it looks like it would be much more cost effective to get the car myself. But there are other non cost issues that I'm trying to take account of as well. If anyone has any points for or against either option I would be glad to hear them. Cheers.